All Real Assets articles in Web Issue – Page 32
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PropertyEU Archive
AAIM confirms luxury hotel deal
Active Asset Investment Management (AAIM) has confirmed it bought a portfolio of six luxury hotels in a 25-year sale-and-leaseback deal from the private equity firm Permira for EUR 400 mln. Premira is backed by Manchester United manager Sir Alex Ferguson and music impresario Simon Cowell.
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PropertyEU Archive
GE RE acquires two office buildings in Nantes
GE Real Estate has acquired two office building development in western France from the property company Eiffage Immobilier Ouest for EUR 9.1 mln. The assets, located in Orvault, near Nantes, provide an total area of 5,598 m[sup]2[/sup]. They were purchased through a sale prior-to-completion agreement (VEFA) and will be delivered ...
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PropertyEU Archive
Kadans acquires GTI office, factory space
Dutch real estate company Kadans Vastgoed has acquired 10,400 m[sup]2[/sup] of office and 14,000 m[sup]2[/sup] of factory space from international technical service provider GTI. Property advisor DTZ Zandelhoff acted for GTI as part of the reorganisation of GTI's property strategy in various regions in the Netherlands. Some of ...
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PropertyEU Archive
Cordea Savills acquires student flats in UK
Cordea Savills, the European property fund management firm, acquired Penworks Studios in Birmingham, England for EUR 20 mln. The asset is a five-storey residential building with 150 flats for students. It has been added to Cordea Savills' U.K.-based Student Hall Fund, which now has five properties encompassing 2,215 total flats ...
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PropertyEU Archive
Blackrock Intl acquires Dublin plot
Dublin-based property company Blackrock International Land has acquired a plot of land near Dublin for EUR 13.5 mln, including costs. The purchase, which will be accounted for in 2006, brings total investments made by Blackrock since its listing in May 2006 to about EUR 155.5 mln, which represents an increase ...
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PropertyEU Archive
Tesco store acquisitions in Slovakia blocked
Slovakia's antitrust agency has banned the UK-based supermarket giant Tesco from purchasing four local stores owned by French peer Carrefour. The two retailers had designed a store-swap plan between them to exit markets in which they have low market shares. Carrefour was to swap 11 hypermarkets in the Czech Republic ...
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PropertyEU Archive
AMB opens Paris office
American investment fund AMB is opening a management office in Paris. The fund, listed on the New York stock exchange, acquired a building from the property management company Unibail in the 8th arrondissement (district) in Paris. AMB has a portfolio of close to 12 million m[sup]2[/sup] spread across North ...
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PropertyEU Archive
DIM Vastgoed mulls US shopping centre sell-off
The board of Dutch-based DIM Vastgoed is investigating what the total return for share would be if the company sold its entire real estate portfolio, consisting of 19 shopping centres in the US. DIM expects the sell-off would generate a higher return per share than the portfolio's intrinsic value of ...
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PropertyEU Archive
London meeting to explore European REIT market
The advent of real estate investment trusts (REITs) in the UK and similar legislation in Germany and Italy has ensured that REITS continues to be a hot topic among real estate professionals in Europe. A new index for UK REITS was launched on Thursday, while a recent proposal for separate ...
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PropertyEU Archive
Sponda to finance Kapiteeli takeover with share issue
Helsinki-based property group Sponda intends to raise up to EUR 250 mln through a share issue to finance the acquisition of the Finnish real estate investment company Kapiteeli. The transaction in mid-December 2006 doubled Sponda's real estate portfolio to about 2 million m[sup]2[/sup] of total leasable area across Finland.
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PropertyEU Archive
DIFA 'to sell' EUR 1 bn of German assets
DIFA, the German open-ended real estate fund, intends to sell off more than EUR 1 bn of real estate in Germany, an unidentified company source is saying in the Financial Times Deutschland. The source said DIFA has assigned Atisreal to find buyers for approximately 40 buildings and land plots. Germany ...
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PropertyEU Archive
FCC wins EUR 116 mln contract
Spain-based Fomento de Construcciones y Contratas (FCC) has been awarded a EUR 116 mln contract for the development of a new bridge over the Danube river which will bond Bulgaria and Rumania, the company told the Spanish national stock exchange agency CNMV.
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PropertyEU Archive
Moorfield acquires EUR 125 mln Cornmil mall
UK-based Moorfield has acquired the Cornmill shopping centre in Darlington from the property management firm Investream for EUR 125,5 mln. The value reflects a net initial yield of 5.25%.
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PropertyEU Archive
ING REIM acquires Spanish mall for EUR 50 mln
ING Real Estate Management (ING REIM) has announced the acquisition of Ociopia shopping centre in Alicante, Spain for about EUR 50 mln from Spanish developer Grupo Inerzia. ING said the scheme is the seventh income-producing asset in the portfolio of ING Retail Property Partnership Southern Europe.
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PropertyEU Archive
Castellum buys EUR 54 mln Swedish properties
Swedish property company Castellum has acquired eight Swedish properties for a total investment of EUR 54 mln. In a press release, the group said it has also sold two premises with a total lettable area of 8,600 m[sup]2[/sup] for EUR 3.2 mln.
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PropertyEU Archive
Tour Eiffel buys Cogema HQ for EUR 55 mln
French property company Societe de la Tour Eiffel has acquired the headquarters of energy company Cogema for EUR 55 mln. The office development, situated in Velizy, northern France, comprises a 12,200 m[sup]2[/sup] tower, constructed in 1980, and a 5,620 m[sup]2[/sup] 'Energy park' area, developed in 1991.
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PropertyEU Archive
Halladale disposes of Baytree mall for EUR 61.7 mln
Halladale, the AIM-listed co-investing property company, has disposed of the Baytree Centre in the UK to property fund O Twelve Estates for £41.6 mln (EUR 61.7 mln). The price reflects a net initial yield of 4.78%.
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PropertyEU Archive
Metrovacesa makes bid for Spanish office market
Spanish property giant Metrovacesa has acquired three plots of land with a total area of 73,000 m[sup]2[/sup] in Madrid and Barcelona for the development of three business parks. The company said in a press release it intends to invest around EUR 300 mln in the sites. 'Metrovacesa is making a ...
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PropertyEU Archive
GE RE buys Wasquehal office buildings
GE Real Estate has acquired six office buildings under development from the property developer Palm Promotion for around EUR 19 mln, through a sale prior to completion agreement (VEHA).
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PropertyEU Archive
Tishman Speyer buys CAA London HQ
Tishman Speyer has announced the acquisition of the London headquarters of the UK’s Civil Aviation Authority from private investors on behalf of its fund TSEV. The financial details of the investment have not been disclosed. Farebrother acted as Tishman Speyer’s advisor on the transaction, CB Richard Ellis represented the seller.
